Forbearance

From Bilat-Wiki
Jump to: navigation, search

Translations missing. Please help us to translate this therm

M-West: A period of time during which a lender permits a borrower to temporarily cease making payments, to make reduced payments, or to extend the time for making payments. Forbearances are usually granted at the discretion of the lender at the borrower's request. The borrower is responsible for the interest that accrues and, if unpaid, the interest will be capitalized.